Patrick de Villepin, chairman of the ASF’s Factoring Committee (the French Association of Specialized Finance Companies), a founding member of the EU Federation(EUF), has published a book called "Factors and Actors". Its aim is to promote global awareness of the factoring industry and this collaborative work brings together thoughts and analysis from 37 experts from 15 different countries, including historians, professionals and several EUF members. The book spans the past, present and future of the factoring business from both historical and technical perspectives. It also includes a chapter on the EUF itself.
"Factors and Actors" is structured around several key themes:
"Factors and Actors" was launched at the 50th anniversary meeting of FCI, the World Factoring Association which brings together 400 factoring companies from 90 countries.
Marking the occasion, Patrick de Villepin said "Today, factoring is at a crossroads. With the emergence of fintechs, new risks linked to cybersecurity and the challenges of digitization, we have constantly to innovate to better meet companies’ needs and to support international trade. This collective work provides useful ideas for all sector stakeholders around the world".
Patrick de Villepin (Ed.), Factors and Actors, A Global Perspective on the Present, Past and Future of Factoring, Brussels, Peter Lang, 2018, 434 pages.
Final analysis of data collated by the EU Federation for the Factoring and Commercial Finance Industry (EUF) shows that factoring and commercial finance volumes in the EU grew overall in 2017 by 7.5% to €1.6 Trillion.
Faith print shopper winged bag Leopard This rate of growth again clearly outpaces the increase in GDP in Europe and demonstrates clearly the vital role factoring and commercial finance is playing in developing the real economy, providing principally SME businesses with much needed working capital. This success story is about real growth, real employment and demonstrable business success in supporting the ongoing recovery.
Almost €220Bn of funding is supporting over 200,000 European businesses.
With factoring and commercial finance now representing around 10.5% of EU GDP, this is a powerful and important contribution to EU economic development and success.
Mrs Françoise Palle-Guillabert, Chairman of the EUF, noted: "The continuing story of growth in our Industry reinforces yet again the highly important role we have in financing the development and expansion of the the real business economy right across the European Community. However, this success should not make us forget that for years to come Factoring and Commercial Finance industry will have to deal with major prudential and legal issues (NSFR, Anacredit, NPL, Basel III, Rome 1, SMEs definition...) and that their voice will have to be taken into account by European legislators and regulators.”
Please see the full press release with EUF statistics by country:
The EUF is glad to publish its latest Newsletter.
The Newsletter may be downloaded here:
The EUF’s unique overview analysis of the legal and regulatory environments in Europe (and a number of important comparator countries) has been brought right up to date with an extensive review and revision of the EU 28 member countries’ positions. The EUF considers that this document now represents the only comprehensive analysis of its type available to the Industry, its regulators and lawmakers, associated support service providers and anyone with an interest in the effective finance of business.
The 2017 study consists of 15 sets of questions which investigate the key aspects of receivable financing and factoring and its value lies in bringing this important information together in one place for analysis, comparison and review.
Created with the kind support of global law firm Clifford Chance, the document is a substantial development from the previous edition, now with over three hundred pages of important data and analysis.
Launched at the 4th EU Factoring Summit held in Athens on 6/7 March 2018, the EUF Legal Study will be available on the websites of the EUF and FCI to their respective members.
Françoise Palle-Guillabert, Chairman of the EUF noted: “This updated legal study provides an important contribution to developing a common understanding of the opportunities and challenges that exist for the Factoring and Commercial Finance industry to finance the real economy of Europe, supporting business, economic growth and employment.”
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